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Home > News > Company News > Bossard reports slight sales increase in Q3

Bossard reports slight sales increase in Q3

By Fastener+Fixing , 2014-11-19 11:16:29

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Bossard Group sales reached CHF 152.5 million (126.5 million euros) in the third quarter. Sales increased 1.1% in local currency but remained at the same level as Q3 2013 in Swiss Francs. Nine-month sales were CHF 473.5 million (392.7 million euros) up 2% in Swiss Francs and 4.1% in local currency.

Bossard says the overall positive demand trend in Europe continued although growth did weaken. Third quarter sales grew 1.5% in local currency and 0.4% in Swiss Francs to CHF 98.5 million. Lower growth rates compared to previous quarters correlate with the persistent downward-trending economic indicators, partially due to geopolitical uncertainties in Europe.

Demand in Asia remained robust, increasing 15.7% in local currency: in Swiss Frances sales rose by 14.6% to CHF 26.7 million. Bossard reported double-digit growth rates in most of its Asian sales countries.

Continued soft sales in America were due to weaker demand from a major customer. Added to this Tesla temporarily closed its plant in order to expand production capacities. Bossard is emphatic this in now affects the excellent sales expectations from this customer. Sales fell 12.2% to CHF 27.3 million for the quarter, a drop of 10.9% in local currency.

Bossard says it expects different regional sales trends for the fourth quarter. In Asia it continued to target above-average growth but in Europe it expects demand to remain sluggish. In America, the burgeoning sales volume with Tesla will affect business positively. The Group projects full year sales in the region of CHF 625 million (518.3 million euros), an increase in local currency of around 4% over 2013.

Source: www.fastenerandfixing.com

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